The new package will give UK Export Finance (UKEF) the power to expand financing support for British businesses by £20 billion, with small businesses also able to access loans of up to £2 million through the British Business Bank’s Growth Guarantee Scheme.

Thousands of companies are expected to benefit from the move, including those directly affected by tariffs – with iconic British brands like Rolls Royce through to local businesses like Alicat Workboats previously benefitting from similar programmes.

Today’s boost reaffirms government’s commitment to free and open trade, and means an £80 billion boost for businesses, meaning they can access government-backed finance and support to grow their presence both domestically and overseas, create new jobs and drive economic growth as part of the Plan for Change.

New measures come as prime minister goes further and faster to boost growth, working in partnership with business to deliver it.

This week alone has seen swift and decisive action from the government to protect UK businesses and workers by:

• Taking action to keep British Steel operating, saving thousands of jobs
• Increasing flexibility on the zero-emission vehicle (ZEV) mandate to help British carmakers
• Cutting the red tape that slows down clinical trials in the life sciences sector
• Investing up to £600 million in a new Health Data Research Service
• Backing a £30 million package to support the reopening of Doncaster Sheffield Airport which is expected to support 5,000 jobs and boost the economy by £5 billion

Chancellor of the Exchequer, Rachel Reeves said:

The world is changing, which is why it is more important than ever to back our world-leading businesses and support them to navigate the challenges ahead.

Today’s announcement will do that just, with thousands of businesses right across the country set to benefit.

We are going further and faster to boost growth, but we cannot do it alone. Only by working with businesses will we achieve our Plan for Change and put more money into people’s pockets.

Business and Trade Secretary, Jonathan Reynolds said:

Our message to British business is clear – we’ve got your back. This package, backed by the British Business Bank and UKEF, will be a crucial shot in the arm to exporters and small firms looking to trade around the world.

Within a changing world, we need to adapt, and as part of our Plan for Change, this Government is responding. These changes will help to boost growth support jobs and supercharge thousands of businesses across all four corners of the country.

UKEF will also offer businesses partial loan guarantees through more flexible uses of its Export Development Guarantee, helping to mitigate the impact of new tariffs and associated economic uncertainty. Of the £80 billion, up to £10 billion will be allocated to ensure that businesses significantly impacted in the short term by the current situation have access to the finance they need to grow.

The British Business Bank will also expand its Growth Guarantee Scheme by £500 million, which will provide vital finance for smaller businesses as they look to invest and grow. This scheme provides the lender with a 70% government-backed guarantee against loans or other types of finance, enabling lenders to support smaller businesses that would struggle to obtain financing through traditional means – and has so far enabled more than £2.1 billion of lending.

This comes on top of £1 billion of funding for British Business Bank programmes for this financial year, confirmed at Autumn Budget 2024. This includes additional support for smaller housebuilders through the ENABLE Build programme, funding for Start Up Loans and additional funding for three equity programmes supporting innovative high growth businesses

This week, the Chancellor and Business and Trade Secretary also took part in the 13th UK-India Economic and Financial Dialogue (EFD) in order to strengthen ties between the two countries. In addition to India, the UK is negotiating trade deals with partners including the Gulf Cooperation Council, South Korea and Switzerland, which will give businesses more opportunities than ever before to expand into new markets.

Identity verification will provide more assurance about who is setting up, running, owning and controlling companies in the UK. There will be the same level of assurance whether individuals are verifying their identity directly with Companies House or through an ACSP.

Companies House CEO Louise Smyth CBE said:

Identity verification will play a key role in improving the quality and reliability of our data and tackling misuse of the companies register.

To save time later, we encourage directors, people with significant control of companies (PSCs) and those filing information with Companies House to verify their identity during the voluntary window.

We expect identity verification to become mandatory from autumn 2025.

To reduce the burden on business, the identity verification requirement for existing directors will be integrated into the annual confirmation statement update process.

Minister for Employment Rights, Competition and Markets Justin Madders MP said:

In a time where economic crime has become too common, it is imperative that we bring in measures to prevent identities being stolen online and today marks a significant milestone in our plans to require identity verification for those setting up and running companies on the Companies House register later this year.

This is good for business, lenders and transparency and will give companies, consumers and lenders more certainty about who they are doing business with.

AI and Digital Government Minister Feryal Clark MP said:

Ensuring trust and transparency in the digital age is vital and today marks an important step forward. Identity verification at Companies House through our GOV.UK One Login service will make it easier to do business with confidence – protecting entrepreneurs, consumers, and the UK economy from fraud and financial crime.

By embracing digital identity checks, we’re reducing red tape while strengthening our defences against abuse of the system. This is a win for businesses, a win for transparency, and a win for economic growth – a key driver for our Plan for Change.

Shevaun Haviland, Director General of the British Chambers of Commerce said:

The introduction of these new security measures will be welcomed by the thousands of genuine businesses who want to know that fraudsters and criminals cannot masquerade as legitimate concerns.

Protecting the names of good firms and making it harder for those with dishonest motives to set up a business can only be a good thing.

 Thom Townsend, Executive Director, Open Ownership said:

Open Ownership welcomes the introduction of identity verification for individuals listed on Companies House. This will make the information on Companies House more accurate, reliable, and ultimately more useful, and ensures the UK meets international standards.

Ben Cowdock, Senior Investigations Lead, Transparency International said:

We welcome the introduction of ID checks at Companies House, which should make it harder for criminals to hide behind false identities. Having greater assurance over who owns and controls companies is a vital step towards defending the UK against money laundering and building confidence in the business environment.

Glenn Collins, Head of Technical and Strategic Engagement at the Association of Chartered Certified Accountants (ACCA) said:

At ACCA, we welcome the moves to improve and strengthen the integrity of the register, which includes the introduction of identity verification for anyone setting up, running, owning or controlling a company in the UK.

We recognise that businesses, including agents will take some time to get used to the changes and extra requirement. We expect our members to be busy advising and helping companies of all sizes adapt to these new regulations and we look forward to continuing to work with Companies House to make sure of a good transition.

Overall identify verification will help to reduce economic crime and improve corporate transparency. In doing so, it will contribute to the growth of the UK economy by helping businesses make better decisions.

Patrick Walsh, Chair of the Business Informational Providers Association (BIPA) said:

BIPA welcomes Companies House’s launch of the new identity verification measures, as set out in the Economic Crime and Corporate Transparency Act. These are crucial steps towards realising the enhanced security and transparency that the Act aims to achieve.

The implementation of these robust checks will deter fraud and bolster confidence in Companies House as the custodian of reliable business data.

We believe these measures will strengthen the UK’s economy by fostering transparency and accountability across business sectors.

BIPA remains committed to engaging with Companies House to ensure successful adoption and implementation of these important changes.

The Law Society of England and Wales Company Law Committee said:

The Law Society of England and Wales has been working closely with Companies House on the development of the new procedures for identity verification. We are pleased that Companies House is introducing the procedures on a staggered basis, which will give companies and LLPs the option to ensure their directors (or, in the case of LLPs, members) and PSCs complete the necessary checks ahead of time if they wish.

Under legislation which came into force on 1 January 2024, large organisations must submit their July-December 2024 data by 1 April.

Small organisations must submit their January-December 2024 data in one annual submission by 1 April.

In addition, all obligated organisations, large and small, must also register with their environmental regulator by the same date. Guidance on how to register can be found here.

The data producers provide will be crucial in helping to ensure fees are set at an appropriate level.

The Government is grateful to all those in industry who have engaged closely with pEPR and already submitted extensive data, helping to finetune the policy. If obligated packaging producers have neither reported their data nor registered, they could face enforcement action.

To check whether they need to report packaging data, businesses should visit EPR: who is affected and what to do and, if necessary, follow the online instructions to access the new Report Packaging Data service.

pEPR will move the cost of dealing with household packaging waste away from taxpayers onto the businesses who produce the packaging.

It will incentivise businesses to reduce unnecessary packaging and use more recycled and recyclable packaging, leading to less waste to landfill and reducing the release of damaging CO2 emissions.

Dr Margaret Bates, head of the UK pEPR scheme administrator PackUK, said:

The need for an effective pEPR scheme that shifts the cost of managing household packaging waste to producers has never been more critical.

We urge all businesses to check their obligations under pEPR and to report their data and register with environment regulators by 1 April.

Together, we will deliver a fair and collaborative scheme that addresses the challenges of packaging waste and lays the foundation for a more sustainable and responsible approach to packaging.

If a firm or a member of the public suspects a business is not complying with the regulations, they should report this to the regulators by contacting them directly via the details listed below.

• packagingproducers@environment-agency.gov.uk
• producer.responsibility@sepa.org.uk
• packaging@daera-ni.gov.uk
• packaging@naturalresourceswales.gov.uk

Proposals need to:

Build stronger collaborations with farmers to access surplus food.

Expand logistical capacity to transport and distribute rescued produce efficiently.

Invest in critical infrastructure such as refrigeration, storage facilities, and transport vehicles to keep food fresh and safe for redistribution.

Procure packaging and labelling equipment to streamline the handling of surplus goods.

Match funding of between 10% and 20% is required depending on the size of the organisation.

Project delivery is from 14 May 2025 to 31 March 2026.

The funding can go towards purchasing new packaging and labelling equipment and vehicles to move goods from farms to a redistribution organisation, as well as new equipment, like fridges or freezers, to safely store food and ensure it lasts longer.  

Surplus food should be from farms that are geographically located in England only, to be redistributed to those who have a need in England only.

Not-for-profit organisations in England that redistribute surplus food to charities for a discounted or free food offer can apply.

Redistributors working in partnership would be considered. This could enable large redistributors to work with small redistributors at a local level, utilising the large redistributors’ distribution and storage networks and contacts, while bringing in localised redistributors. Applicants must be from the not-for-profit sector but can utilise the commercial sector to deliver the outcomes.

The deadline for applications is 13 March 2025 (11:55am).

With the UK celebrating National Apprenticeship Week 2025 (10-16 February), there are few more exciting places for apprentices to be than automotive, as the sector innovates to deliver a new generation of zero emission vehicles. More than £20 billion of investment has been committed to Britain’s EV transition in the past two years alone¹ – bringing with it demand for a highly skilled workforce adept in the latest technologies.

Such demand is reflected by more than 550 new apprentices already having joined the sector this academic year, with an additional 740 apprenticeships still available. Among the major automotive employers surveyed by SMMT,²  apprenticeship numbers are set to  increase by almost a sixth (16%). That growth builds on previous years, with a 40.8% rise in new apprenticeship starts in 2023 alone, according to the latest full year of apprenticeship data³ – a trend that will continue to bring long-term, well paid and rewarding careers in the UK over the  next decade.

From R&D and manufacturing to the supply chain, maintenance and repair, there are hundreds of new and exciting opportunities up for grabs, with some highly skilled positions most in need including design and development engineers, EV technicians and specialists in batteries and power electronics. These roles reflect an ever greener industry, with more than 180 different zero emission vehicle models – cars, vans, trucks and buses – already available in the UK and more coming in 2025.

Faster decarbonisation and green growth, however, requires a workforce that’s equipped to drive it. Apprenticeship training must keep up to date with the very latest vehicle technologies, including how to design, build, test, maintain and repair the latest vehicles This makes the skills transition a top priority for industry – and the launch of Skills England and the new Growth & Skills Levy will help improve provision and access to automotive training for businesses of all sizes and in every part of the UK.

Mike Hawes, SMMT Chief Executive, said, “Britain’s automotive sector is on the cusp of a ‘green growth decade’ with billions being invested in EVs and, crucially, in a new generation of talent to design, build and maintain them. There is little doubt that automotive is one of the world’s most exciting industries and, as we seek growth, we need new-skilled apprentices that can grow with us. Our promise is well-paid, rewarding careers for years to come.”

As SMMT set out in Vision 2035, industry is ready to deliver more than £50 billion worth of growth – green growth – in the next decade with an industrial strategy that has UK Automotive at its heart. Green skills for a greener future is a key pledge of the strategy, which must:

Enable the development of future domestic talent while retaining and upskilling the existing workforce;

Raise the profile of STEM (science, technology, engineering and mathematics), automotive and manufacturing subjects in Further Education;

Deliver an online National Upskilling Platform that allows automotive businesses of all sizes to be informed of and take part in upskilling; and

Reform the former Apprenticeship Levy to support upskilling existing workers – which may include former apprentices – with short-term training in priority areas such as electrification and digitisation.

Falling demand hit all but one segment, with small van registrations recording the only increase, up 89.8% to 668 units but still just a fraction (3.5%) of the market. Registrations of the largest vans were down -22.3% to 11,537 units – representing 60.6% of the overall market – while those of medium vans fell by -30.4% to 3,507 units. In the smaller volume segments, meanwhile, 4x4s and pick-ups fell by -27.2% and -6.5% respectively.

Battery electric van (BEV to 4.25T) uptake rose for the fourth consecutive month, supported by the continuation of the Plug-in Van Grant, up 12.4% to 1,464 units – an overall market share of 7.6%.1 Further growth is anticipated across the year, with the latest outlook published today suggesting BEV volumes (to 3.5T only) will reach 33,000 in 2025 to command a 10.6% share of registrations – substantially below the 16% mandated. At the same time, the overall market is expected to contract by -1.2% to 348,000 units.

Manufacturers have invested massively in EV innovation with more than half (33) of all van models on the UK market available as zero emission, providing operators with an impressive array of choice.2 Unless government backs its EV regulation with an ambitious fiscal and infrastructure strategy, however – one that includes mandating faster chargepoint rollout that meets the specific charging needs of vans compared with cars – operators will lack confidence to run their fleets on zero emissions.

With the new year now underway, government’s review of the Zero Emission Vehicle Mandate must ultimately deliver measures and flexibilities to support the industry and the van buyer.

The Medal Presentation, held on Thursday 23rd January, saw Thomas receive the coveted BCA Medal of Honour for Service to Community (BCAc). Recipients are entitled to use the post-nominals to commemorate their achievements.

Tom has committed his time, knowledge and passion into countless community projects within the West Midlands for the past 12 years. Always striving to make an impact and generate meaningful change to community groups, most of which are hard to reach, has enabled Tom to engage 40,000 young people away from crime and back into education, training or employment. 

With a professional background of lecturing and educational management, delivering focused community projects to engage and inspire young people has become a life passion and one which enables him to coach community members and peers, and also to support those in need. Ultimately, enthusing others to realise the opportunities that are available to them and strive forward with a clear plan to achieve change.

He has dedicated many hours to his West Midlands community, where he strongly advocates trying to create improvements ‘for the sake of humanity’. Additionally, Tom has also been appointed as the Deputy Chair for West Midlands Crimestoppers which provides him with a different opportunity to have a positive impact on those involved in anti-social behaviour and low-level criminal activities. 

Thomas was presented with the BCA Medal of Honour by Dame Mary Perkins, BCA Patron and Founder of Sponsors Specsavers who said: ‘This year’s medallists all have heart-warming and life-affirming stories of selflessly supporting their communities. Every single one is an inspiration to us all.

‘Hearing the huge difference they make to the lives of others is one of the many reasons Specsavers is so proud and humbled to support the British Citizen Awards and play our small part in honouring these unsung heroes of British society.’

The presentation was hosted by TV presenter Matt Allwright, and attended by BCA Patrons Dame Mary Perkins, Founder of Specsavers, supporters from Sponsors One Stop, Specsavers, Places for People, Wates and Novus Solutions as well as Peer Host The Rt Hon Lord Dholakia. Following the ceremony, medalists enjoyed an Open Top Lap of Honour tour provided by Big Bus London.

In a conference call with leaders from over 80 businesses including Mace, Siemens and Disney, Education Secretary Bridget Phillipson and Business and Trade Secretary Jonathan Reynolds outlined the importance of engaging with employers to drive growth and put the economy on firm foundations.

Both ministers set out their priorities to reform the fragmented post-16 skills system and to establish Skills England to support key sectors driving growth in local areas.

It follows the Department for Education’s announcement that the government has unlocked £140 million of funding from industry, including £100m from the National House Building Council (NHBC), to set up 32 Homebuilding Skills Hubs. This will make more than 5,000 apprenticeship places available per year in key construction roles.

The conference was attended by three major construction firms: Balfour Beatty, Berkley Group and Mace. Their engagement coupled with these pioneering Homebuilding Skills Hubs will help the government to meet its ambitious target to build 1.5 million new homes in this parliament.

Employers will be at the heart of the government’s skills reforms such as our new levy-funded growth and skills offer. This will introduce greater flexibility to employers and learners in England, creating routes into good, skilled jobs in growing industries, aligned with the government’s Industrial Strategy.

It will also support the pipeline of new talent that employers will need, by rebalancing opportunities towards young people.

The Education Secretary also set out how businesses can help the government to achieve its mission to break down the barriers to opportunity, through offering high-quality apprenticeships or industry placements to ensure everyone has the chance to succeed no matter who they are, where they’re from, or how much their parents earn.

Education Secretary, Bridget Phillipson, said:

If we are to deliver on our Plan for Change and achieve our number one mission to grow the economy, we must develop the skills this country needs.

To do that, we need to take skills seriously again as a country, rebuilding our fragmented and broken system into one that’s rigorous, responsive and puts employers at its centre.

That’s why we are establishing Skills England to help identify the skills we need to drive economic growth. We will create a clear and coordinated strategy for post-16 education and skills, making sure it works with employers to meet the needs of the future.

Today’s call gave me the chance to reiterate this government’s commitment to giving businesses the stability and confidence to enable them to invest in developing skills.

Business Secretary Jonathan Reynolds said:

British workers are some of the most skilled and talented in the world but far too many people are not getting the opportunities they deserve, while businesses are failing to get the staff they need because the system isn’t working.

Through listening to the needs of business and aligning Skills England with our Industrial Strategy, we’re helping employers overcome barriers to invest in skills that will help deliver this government’s Plan for Change and improve living standards.

Bridget Phillipson urged employers to drive up their investment in training, working with government to counter the downward trend since 2011.

The call comes after the Department for Education recently announced that qualifications that will be key to the government’s growth mission in key subjects like manufacturing and engineering that were previously scheduled for defunding will remain until replacements become more established, putting learners first and supporting the transition to T Levels as the large technical qualification of choice.

The government will also introduce more flexibility for industry placements, ensuring even more students can take advantage of the opportunities available from high-quality T Level qualifications.